What are the requirements to go solar?
There’s lots of talk surrounding solar energy these days; it’s clean, it’s abundant, and it can save you money. So what’s the catch?
- You need to be the homeowner.
- A roof without damages or an area to install a ground mount.
- Enough light exposure on your roof or property
- A 600+ credit score to secure financing
There is none!
You don’t have to drain your bank account, or even make a sacrifice to the sun god to qualify. As long as you’re the homeowner, and you have a roof to your home or the property to install a ground mount system, you can go solar! Homeowners with good credit are able to finance the cost of their solar array, for no upfront cost, no down payment, low-interest rates, and typically lower than they’re currently paying the power company.
Types of purchase plans (rates for financing on approved credit):
- Solar purchase: You pay for your system outright. Eliminating the monthly payment to the power company or even a solar lender.
- Solar loan: You pay for your system over time, at a lower payment than you’re currently paying to the power company. With good to excellent credit (650+), you can qualify for a solar loan, with long-term saving benefits, this is the most common option.
(The following are not offered through Reno Solar, only listed for informational purposes)
- Solar PPA (Power Purchase Agreement: the solar provider owns the panels on your roof and you just pay the solar provider for the power produced at a lower cost than the power company.
- Solar Lease: Similar to a PPA, the solar provider owns the panels on your roof, and you pay the solar provider at a fixed amount based on the estimated annual production of your solar panels.
So what’s included in the loan? Everything! There aren’t any hidden fees or fees that will come at a later time. Permits, site surveys, blueprints, CAD design, panels, electrical components, installation, warranty, and panel monitoring are all included.
We work with a handful of reputable solar lenders to guarantee the best rates and terms for your home’s solar system, ensuring that your investment is contributing to the equity in your home and bank account.